The “Big Five” Canadian banks offer investment funds and include Royal Bank of Canada, Toronto Dominion Bank (TD Canada Trust), Bank of Nova Scotia, Bank of Montreal and Canadian Imperial Bank of Commerce (CIBC). Let’s explore the best place for you to invest.
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European Central Bank review shows hole in Greek banks’ finances smaller than first feared
– canadianbusiness.com
FRANKFURT – The European Central Bank says Greece’s battered banks need 14.4 billion euros ($15.8 billion) in fresh money to get back on their feet and resume normal business.
The figure announced Saturday is the result of an ECB review of Greece’s four main banks following an agreement on the troubled country’s third bailout: 86 billion euros ($94.6 billion) from other eurozone governments in August. The review is an important step toward ending limits on bank customer withdrawals and transfers that continue to hamper businesses as the Greek economy struggles to recover.
The banks — Alpha Bank, Eurobank, National Bank of Greece and Piraeus Bank — now must submit plans to raise the money to boost their capital buffers against future financial turmoil and losses. Part of that capital could come from private investors; what can’t be raised from investors would come from bailout funds.
The financial hole the ECB found is smaller than originally feared. The bailout provided for up to 25 billion euros ($27…
The figure announced Saturday is the result of an ECB review of Greece’s four main banks following an agreement on the troubled country’s third bailout: 86 billion euros ($94.6 billion) from other eurozone governments in August. The review is an important step toward ending limits on bank customer withdrawals and transfers that continue to hamper businesses as the Greek economy struggles to recover.
The banks — Alpha Bank, Eurobank, National Bank of Greece and Piraeus Bank — now must submit plans to raise the money to boost their capital buffers against future financial turmoil and losses. Part of that capital could come from private investors; what can’t be raised from investors would come from bailout funds.
The financial hole the ECB found is smaller than originally feared. The bailout provided for up to 25 billion euros ($27…
